Base Metals Eye on US Non-Farm Result, SMM Says

Published: Sep 2, 2016 09:16

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Base metal prices on the SHFE are expected to trade at a relatively strong tone on Friday, Shanghai Metals Market foresees.

SHANGHAI, Sep. 2 (SMM) – Base metal prices on the SHFE are expected to trade at a relatively strong tone on Friday, Shanghai Metals Market foresees.

“Investors are now awaiting the US’s August non-farm payrolls, and if the reading misses market estimation, base metal prices will gain more support,” SMM says.

Key Macroeconomic Indicators for Base Metal Prices (2016-9-2)

Copper: 36,200-36,550 yuan per tonne

Aluminum: 12,150-12,300 yuan per tonne

Lead: 13,850-14,050 yuan per tonne

Zinc: 17,950-18,150 yuan per tonne

Tin: 123,500-125,000 yuan per tonne

Nickel: 78,200-79,400 yuan per tonne

Note: All prices above are forecasts for most actively-traded contracts on each market.

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